How to construct a new global order

In: Oxford review of economic policy, Volume 40, Issue 2, p. 256-268

Abstract

Abstract:
We advance principles for the construction of a stable and broadly beneficial world order that does not require significant commonality in interests and values among states. In particular, we propose a 'meta-regime' as a device for structuring a conversation around the relevant issues, and facilitating either agreement or accommodation. Participating in this meta-regime would impose few constraints on states, yet in favourable circumstances could facilitate significant cooperation. It could also encourage increased cooperation over time even among adversaries, as participation in the meta-regime builds trust. We apply these ideas to several issue areas, including US–China competition.